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1.
Any object or device that is shaped in such a way as to be used for female sexual pleasure (such as a dildo) that is exceptionally cold or frozen.

Such an object may be used to cool down an overheated vagina, provide a brisk sensation during masturbation or foreplay, or possibly thrown in a cooler along with other frozen objects to keep beer cold.
"Dude, this beer isn't really that cold!"

"Well, there wasn't time to get ice, so I used some ice packs and such."

"Yeah, like this kids' soccer ball, and, ... WTF! You've got a frozen Billy in here! Tell me you washed it first!!"
by baconeggcheese April 01, 2013